Your client needs to borrow money in order to support the firm's cash flow needs over the next few years. Two loans available are the following: Loan #1 interest rate 3%, max balance $10,000. Loan #2 interest rate 12%, no limit"

My client has two loans from the same bank and the bank will let the client decide which payment to pay off first, as long as the annual payment is paid on time and in full. How do I use the IF command in this scenario and how do I phrase the wording?